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LEGEND MINING LIMITED — Interim / Quarterly Report 2005
Jul 28, 2005
65223_rns_2005-07-28_fac86f94-bdad-4cdd-91d2-adb2fa99169d.pdf
Interim / Quarterly Report
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JUNE 2005 QUARTERLY REPORT
HIGHLIGHTS
Exploration RC drilling at the Company's Gidgee Project has continued to test for mineralisation in a north westerly corridor centred on the Swift open pit. Several holes have also identified potential for high grade below the Eagle pit. Significant RC drilling results from Gidgee are tabled below:
| Hole | Prospect | Interval | Grade | From |
|---|---|---|---|---|
| (m) | $(g/t \text{ Au})$ | (m) | ||
| GDC 083 | Swift | 18 | 20.2 | 71 |
| and | 11 | 9.8 | 96 | |
| GDC 098 | Swift | 26.6 | 312 | |
| GDC 105 | Eagle | 5 | 12.7 | 180 |
| and | 36.8 | 212 | ||
| and | 2 | 23.3 | 233 | |
| GDC 107 | Eagle | 4 | 6.9 | 159 |
| GDC 108 | Swift | 6 | 5.0 | 32 |
| GDC 113 | Swift | 10 | 4.9 | 78 |
| GDC 117 | Swift | 4 | 6.2 | 115 |
| GDC 126 | Eagle | 2 | 13.6 | 222 |
| and | 2 | 6.6 | 241 | |
| GDC 135 | Swift | 8 | 3.4 | 80 |
| GDC 136 | Swift | 4 | 10.8 | 192 |
| GDC 137 | Swift | 44 | 3.2 | 80 |
| GDC 140 | Swift | 4 | 8.7 | 36 |
RAB and aircore drilling is testing the areas north of the North Swan Bitter open pit, and east and west of the Swift line of workings. Significant RAB and aircore drilling results from Gidgee are tabled below:
| Hole | Prospect | Interval | Grade | From |
|---|---|---|---|---|
| $\mathbf{(m)}$ | $(g/t \text{ Au})$ | $\mathbf m)$ | ||
| PRA04 | N Swan Bitter | 8 | 1.45 | 44 |
| PRA05 | N Swan Bitter | 1.45 | 28 | |
| PRA29 | N Swan Bitter | 2.76 | 20 | |
| and | 4 | 1.89 | 56 | |
| MGA04 | N Swan Bitter | 1.0 | 44 | |
| and | 1.27 | 52 | ||
| and | 1.71 | 60 | ||
| EGA01 | East Gannet | 2.41 | 24 | |
| and | 8 | 2.36 | 64 | |
| SHA017 | Sherwood | 1.26 | 48 |
$\mathbf{L}$ GIDGEE EXPLORATION OVERVIEW
Legend's immediate exploration objective is to discover sufficient Mineral Resources and Ore Reserves to enable recommissioning of the existing mill with a minimum 3 year mine life.
During the quarter, the reverse circulation ("RC") drilling focus was predominantly on the north-westerly trending Swift lode (formerly called "Gulliver"), although other targets and areas were tested. RC drilling for the quarter was totalled 80 holes for 16.501 metres. A summary of RC intercepts over 1g/t gold from holes drilled during the quarter is included in Table 1 at the end of this report.
The drilling has shown that the gold mineralisation at Gidgee is highly variable with adjacent holes often returning different values. This is in part due to the style of the veins, but also reflects the "nuggety" nature of the high grade gold.
The continuing RC drilling program is designed to:
- confirm the orientation of interpreted mineralised structures,
- demonstrate the continuity of mineralisation between adjacent drill holes,
- demonstrate the potential for additional mineralisation on parallel structures adjacent to the $\blacksquare$ known mineralisation, and
- demonstrate the potential for additional open pit resources in areas where previous drilling $\bullet$ was inadequate.
Legend is also implementing a rotary air blast ("RAB") and aircore ("AC") drilling program in the near mine area because it considers the historical RAB drilling was too shallow and largely ineffective. A more powerful drill rig than was previously available is being utilised, and this is generating significant new gold anomalies, mostly from lower in the regolith profile. During the quarter, 313 RAB and AC holes for 22,569 metres were completed
The RAB/AC results indicate extensions to the known mineralisation and suggest that the Gidgee deposit remains open to the north of the North Swan Bitter open pit. The rig is currently also extending the area of the known mineralisation south of the Emu-Feather pit, on a trend parallel to and between the Butcherbird-Swan Bitter and Swift-Gannet lines. Results greater than 0.5g/t gold from RAB/AC holes drilled this quarter are shown in Table 2.
Structures controlling the gold mineralisation consist of a series of steeply dipping northnorthwest $(340^{\circ})$ and west-northwest $(310^{\circ})$ trending mineralised shears with additional gold mineralisation hosted by flatter veins on link structures between the sets of shears. The host rocks are a series of basalt flows with coarser basalt or dolerite cores. The exact nature of the sequence is still under investigation.
Basemetal Exploration
Compilation and evaluation of historic and open-file file data relating to basemetal exploration on Legend's tenements in the Gidgee greenstone belt continued. The work completed so far indicates that the felsic volcanic units in the belt have favourable geochemical signatures and are the right age to be considered "fertile".
At Bevan, east of the Gidgee minesite, CRA Exploration Pty Ltd in 1980 reported intercepts of 7 metres at 5.7% copper and 10 metres at 2.35% zinc (including 1 metre at 9.73%). These intercepts were only followed up by one diamond and three RC holes. At Altair to the northwest of Gidgee, a diamond hole drilled by Pancontinental in 1994 returned a 3.5 metre intersection of massive sulphides containing 1.18% copper.
Anomalous basemetal values previously reported for RAB intercepts at Golden Hind. immediately west of Kingfisher, were tested by RC drilling. The anomalism is now interpreted to be the result of secondary enrichment over black shales, and will not be further followed-up at this time. However, volcanic fragmental rocks were identified in aircore holes adjacent to the zones tested by RC drilling and the area is of interest for future exploration.
$\mathbf{2}$ . MUNNI MUNNI JOINT VENTURE (LEGEND 30.12%)
The drilling program proposed by the Manager of the Joint Venture, East Coast Minerals N.L. (ECM), was delayed due to equipment availability and weather. Legend and ECM have agreed to Legend diluting its interest to 30.12% effective 30 June 2005.
$\mathbf{3}$ . KARRATHA GOLD AND BASE METAL PROJECT, WEST PILBARA
The Karratha project covers about 625 square kilometres of the West Pilbara greenstone belt between Karratha, Roebourne and Radio Hill, an area that Legend considers to be underexplored and highly prospective for base metals.
A low-impact small-scale gold mining operation was started on E47/966 under a tribute-style arrangement, following DOIR approvals. This will allow Legend to establish local controls and distribution of gold, with the view to planning wider and deeper drill testing of the mineralised system.
Although Legend's exploration focus has been almost exclusively on its Gidgee property during the reporting period, the company will continue to review how best to advance the Karratha project and increase its value for shareholders.
$\overline{4}$ . CORPORATE
New Directors
Mr Dermot Ryan and Mr Mark Wilson were appointed Executive Directors of Legend on 13 May 2005. Mr Ryan was also appointed Chief Executive Officer. Mr Andrew Chapman resigned as a director but remained as Company Secretary and Mr Ian Cowden withdrew his nomination to seek re-election at the AGM held on 30 May 2005.
New Substantial Shareholder
On the 8 June 2005 the Commonwealth Bank of Australia and its subsidiaries advised the ASX that it had become a substantial shareholder of Legend, holding 5.3% of the fully paid shares on issue at the time.
Capital Raisings
Two resolutions at the AGM relating to shareholder ratification of the issue of shares were carried by overwhelming majorities.
On the 4 July 2005 Legend announced that Australian Gold Resources Pty Ltd ("AGR") had exercised 25,000,000 of its Legend options thereby providing cash to Legend of \$1,000,000. Subsequently AGR announced to the ASX a change in its substantial shareholding to 107,492,500 fully paid shares being 28.4% of the fully paid shares on issue at the time. Also
during the quarter, 161,828 fully paid shares were issued as a result of the exercise of listed options at an exercise price of \$0.15 per option thereby raising \$24.274.
5. GIDGEE OPERATIONS
The Swan Bitter underground mine and processing plant remained on care and maintenance throughout the quarter.
Dermot Ryan
Director
29th July 2005
The information relating to exploration and results from Gidgee in this report is based on data compiled by Mr Donald Thomson, a Member of the AusIMM and an employee of Legend Mining Ltd. Mr Thomson has sufficient relevant experience in the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the "Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" and consents to the inclusion in this report of the information in the form and context in which it appears.
| Hole | Prospect | North | East | Hole | Dip | Azi | RL | From | Width | Grade |
|---|---|---|---|---|---|---|---|---|---|---|
| MGA94) | (MGA94) | Depth | (°) | (mag) | (m) | (m) | (m) | $(g/t \text{ Au})$ | ||
| GDC083 | Swift | 6983341 | 739720 | 130 | $-65$ | 270 | 520 | 72 | 28 | 18.0 |
| Incl | 76 | 12 | 28.5 | |||||||
| and | 96 | $\overline{4}$ | 35.5 | |||||||
| GDC096 | Swift | 6983137 | 739806 | 142 | $-69$ | 272 | 519 | 116 | 4 | 2.1 |
| GDC098 | Swift | 6982991 | 739785 | 316 | $-61$ | 270 | 521 | 312 | 4 | $\overline{5.5}$ |
| GDC108 | Swift | 6982741 | 739735 | 130 | -60 | 269 | 519 | 32 | 4 | 4.9 |
| GDC113 | Swift | 6983190 | 739820 | 170 | $-70$ | 271 | 520 | 76 | 12 | 3.5 |
| GDC117 | Swift | 6983312 | 739734 | 142 | -60 | 271 | 521 | 116 | 4 | 5.5 |
| GDC136 | Swift | 6983365 | 739691 | 220 | $-50$ | 250 | 520 | 80 | $\bf{8}$ | 3.4 |
| GDC136 | Swift | 6983366 | 739696 | 240 | -60 | 250 | 520 | 192 | 4 | 10.8 |
| GDC137 | Swift | 6983337 | 739505 | 230 | $-70$ | 250 | 523 | 60 | 64 | 2.5 |
| Incl | 80 | 44 | 3.2 | |||||||
| GDC138 | Swift | 6983434 | 739654 | 240 | -60 | 250 | 520 | 140 | 4 | 1.2 |
| GDC139 | Swift | 6983426 | 739640 | 210 | $-50$ | 250 | 520 | 112 | ${\bf 8}$ | 1.8 |
| GDC140 | Swift | 6983378 | 739484 | 244 | $-70$ | 250 | 520 | 36 | 4 | 8.7 |
| GDC078 | N Swan Bitter |
6983770 | 739239 | 270 | $-65$ | 270 | 523 | 232 | 4 | 2.1 |
| GDC079 | N Swan Bitter |
6983669 | 739195 | 280 | $-70$ | 270 | 521 | 264 | 8 | 5.6 |
| Incl | 264 | 4 | 9.7 | |||||||
| GDC106 | N Swan Bitter |
6983652 | 739365 | 260 | $-78$ | 268 | 521 | 52 | 4 | 1.0 |
| GDC119 | N Swan Bitter |
6983599 | 739336 | 209 | $-64$ | 272 | 520 | 128 | 4 | 1.4 |
| GDC105 | Eagle | 6981777 | 738690 | 250 | $-61$ | 72 | 520 | 180 | $8\,$ | 11.1 |
| Incl | 180 | 4 | 21.2 | |||||||
| 212 | 20 | 2.6 | ||||||||
| Incl | 212 | $\boldsymbol{4}$ | $\delta.\theta$ | |||||||
| and | 232 | $\overline{4}$ | $\overline{5.9}$ | |||||||
| GDC107 | Eagle | 6981965 | 738610 | 250 | $-59$ | 72 | 518 | 156 | $\bf 8$ | $1.2\,$ |
| 144 | 8 | 1.5 | ||||||||
| 160 | 4 | 3.4 | ||||||||
| GDC124 | Eagle | 6981877 | 738625 | 268 | -60 | 270 | 520 | 208 | 20 | 1.2 |
| Incl | 208 | 4 | 3.9 | |||||||
| 236 | 4 | 1.9 | ||||||||
| GDC126 | Eagle | 6981917 | 738618 | 250 | -60 | 270 | 520 | 164 | 4 | 2.8 |
| 176 | 4 | 2.0 | ||||||||
| 220 | 4 | 15.1 | ||||||||
| 240 | 4 | 2.0 | ||||||||
| 248 | 2 | 1.0 | ||||||||
| GDC128 | Eagle | 6981823 | 738638 | 304 | $-60$ | $70\,$ | 520 | 116 | 4 | 2.1 |
| GDC130 | Eagle | 6981823 | 738644 | 226 | $-45$ | $70\,$ | 520 | 224 | $\overline{2}$ | 2.7 |
| GDC131 | Eagle | 6981727 | 738709 | 252 | -60 | $70\,$ | 520 | 164 | 4 | 1.4 |
| GDC097 | Golden Hind |
6980839 | 739058 | 160 | -61 | 54 | 516 | 120 | 4 | 2.1 |
| GDC069 | North End | 6983030 | 738628 | 220 | $-55$ | 230 | 524 | $28\,$ | 3 | $\overline{2.2}$ |
| GDC129 | North End | 6982727 | 738482 | 120 | -60 | 90 | 520 | 56 | $\ddot{\bf 4}$ | 2.0 |
Table 1. Summary of Recent Results from RC Drilling at Gidgee (+1.0 g/t Au)
Notes: New previously unreported intercepts in bold. Intercept grade >1g/t gold, 30gm fire assay on 4 metre composite sample by SGS Laboratories Mt Magnet.
| Table 2. | ||||||||
|---|---|---|---|---|---|---|---|---|
| Summary of Recent Results from RAB/Aircore Drilling at Gidgee (+0.5 g/t Au) | ||||||||
| Hole | Prospect | Type | North | East | Hole | From | Width | Grade |
| (MGA) | (MGA) | Depth | (m) | (m) | $(g/t \text{ Au})$ | |||
| PRA05 | N Swan Bitter | AC | 6984017 | 739174 | 60 | 28 | 4 | 1.45 |
| PRA04 | N Swan Bitter | AC | 6984011 | 739132 | 66 | 28 | 4 | 0.89 |
| PRA 04 | N Swan Bitter | AC | 6984011 | 739132 | 66 | 32 | 4 | 0.53 |
| 44 | 8 | 1.45 | ||||||
| 48 | 4 | 0.92 | ||||||
| PRA08 | N Swan Bitter | AC | 6984122 | 739015 | 60 | 48 | 4 | 0.50 |
| PRA 29 | N Swan Bitter | AC | 6984526 | 739017 | 67 | 20 | 4 | 2.76 |
| 44 | 4 | 0.79 | ||||||
| 56 | 4 | 1.89 | ||||||
| MGA04 | N Swan Bitter | AC | 6983681 | 738660 | 97 | 44 | 4 | 1.00 |
| 52 | 4 | 1.27 | ||||||
| 60 | 4 | 1.71 | ||||||
| EGA01 | East Gannet | AC | 6983778 | 739646 | 78 | 24 | 4 | 2.41 |
| 64 | 8 | 2.36 | ||||||
| SHB008 | Sherwood | RAB | 6985338 | 740366 | 48 | 28 | 4 | 0.85 |
| SHA010 | Sherwood | AC | 6985358 | 740406 | 75 | 48 | 4 | 0.55 |
| SHA017 | Sherwood | AC | 6985496 | 740439 | 90 | 48 | 4 | 1.26 |
| SHA023 | Sherwood | AC | 6985213 | 740342 | 79 | 60 | 4 | 0.78 |
| GHA027 | Golden Hind | AC | 6981067 | 737896 | 97 | 76 | 4 | 0.47 |
| GHA072 | Golden Hind | AC | 6979359 | 738879 | 86 | 8 | 4 | 0.58 |
| GHA078 | Golden Hind | AC | 6979447 | 739354 | 102 | 84 | 4 | 0.76 |
| GHA127 | Golden Hind | AC | 6979200 | 739515 | 100 | 44 | 4 | 0.68 |

$Rule 5.3$
Appendix 5B
Mining exploration entity quarterly report
Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001.
Name of entity
LEGEND MINING LIMITED
| ABN | Quarter ended ("current quarter") | ||
|---|---|---|---|
| 22 060 966 145 | 30 June 2005 | ||
| Consolidated statement of cash flows | |||
| Cash flows related to operating activities | Current quarter \$A'000 |
Year to date $(6$ months) \$A'000 |
|
| 1.1 | Receipts from product sales and related debtors Adjustment on first time application of AIFRS |
13 | 3,693 4,600 907 |
| 1.2 | (a) exploration and evaluation Payments for (b) development (c) production |
(3,069) (1,076) |
(4,295) (6,773) |
| 1.3 | (d) administration Dividends received |
(767) | (1, 104) |
| 1.4 1.5 |
Interest and other items of a similar nature received Interest and other costs of finance paid |
54 (249) |
129 (353) |
| 1.6 1.7 |
Income taxes paid Other (provide details if material) |
||
| Net Operating Cash Flows | (5,094) | (7,796) | |
| 1.8 | Cash flows related to investing activities Payment for purchases of: (a)prospects (b)equity investments (c) plant & equipment |
(32) | (61) |
| 1.9 | (d) mine ppty $&$ dvmt Proceeds from sale of: (a)prospects (b)equity investments (c)other fixed assets |
72 | 96 |
| 1.10 | Loans to other entities | ||
| 1.11 | Loans repaid by other entities | ||
| 1.12 | Other (provide details if material) | ||
| 1.13 | Net investing cash flows Total operating and investing cash flows (carried |
40 | 35 |
| forward) – | (5.054) | 77 76 D. |
+ See chapter 19 for defined terms.
Appendix 5B Mining exploration entity quarterly report
| 1.13 | Total operating and investing cash flows (brought forward) | (5,054) | (7,761) |
|---|---|---|---|
| Cash flows related to financing activities | |||
| 1.14 1.15 |
Proceeds from issues of shares, options, etc. Proceeds from sale of forfeited shares |
3,178 | 8,145 |
| 1.16 | Proceeds from borrowings | ||
| 1.17 | Repayment of borrowings | (526) | |
| 1.18 | Dividends paid | ||
| 1.19 | Other - Rental & Interest | (21) | (23) |
| - Capital raising costs | (129) | (129) | |
| Net financing cash flows | 3,028 | 7,467 | |
| Net increase (decrease) in cash held | (2,026) | (294) | |
| 1.20 | Cash at beginning of quarter/year to date Adjustment on first time application of AIFRS |
3,895 | 3,070 (907) 2,163 |
| 1.21 | Exchange rate adjustments to item 1.20 | ||
| 1.22 | Cash at end of quarter | 1,869 | 1,869 |
Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities
| Current quarter \$A'000 |
||
|---|---|---|
| 1.23 | Aggregate amount of payments to the parties included in item 1.2 | 324 |
| 1.24 | Aggregate amount of loans to the parties included in item 1.10 |
1.25 Explanation necessary for an understanding of the transactions
Directors salary, consultancy fees & termination payments.
Non-cash financing and investing activities
$2.1$ Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows
Acquisition of Gidgee Resources Limited by the issue of 75,000,000 Ordinary Shares & the issue of 75,000,000 Options @ $\omega$ \$0.04 with an expiry date of 31 May 2009. The holder of the above $75,000,000$ options, exercised $25,000,000$ of these options on the 30 June 2005.
Details of outlays made by other entities to establish or increase their share in projects in which the $2.2$ reporting entity has an interest
N.A.
$+$ See chapter 19 for defined terms.
Financing facilities available
Add notes as necessary for an understanding of the position.
| Amount available \$A'000 |
Amount used \$A'000 |
||
|---|---|---|---|
| 3.1 | Loan facilities | سد | |
| 3.2 | Credit standby arrangements |
Estimated cash outflows for next quarter
| Total | 1,500 | |
|---|---|---|
| 4.2 | Development | ш |
| 4.1 | Exploration and evaluation | 1,500 |
| \$A'000 |
Reconciliation of cash
| Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows. |
Current quarter SA'000 |
Previous quarter SA'000 |
|
|---|---|---|---|
| Cash on hand and at bank 5.1 |
1,852 | 3,878 | |
| Deposits at call 5.2 |
17 | 17 | |
| Bank overdraft 5.3 |
|||
| Other (provide details) 5.4 |
w | ||
| Total: cash at end of quarter (item 1.22) | 1,869 | 3,895 |
+ See chapter 19 for defined terms.
Changes in interests in mining tenements
| Tenement | Nature of interest | Interest at | Interest at | ||
|---|---|---|---|---|---|
| reference | (note (2)) | beginning | end of | ||
| of quarter | quarter | ||||
| 6.1 | Interests in mining | E47/587 | Reduced JV* interest | 33.33% | 30.12% |
| tenements relinquished, | M47/340 | Reduced JV* interest | 3333% | 30.12% | |
| reduced or lapsed | M47/341 | Reduced JV* interest | 33.33% | 30.12% | |
| M47/342 | Reduced JV* interest | 33.33% | 30.12% | ||
| M47/343 | Reduced JV* interest | 33.33% | 30.12% | ||
| E53/0891 | Surrendered | 100% | $0\%$ | ||
| E57/0191 | Surrendered | 100% | $0\%$ | ||
| E53/1108 | Surrendered See 6.2 | $0\%$ | $0\%$ | ||
| P53/1010 | Surrendered See 6.2 | $0\%$ | $0\%$ | ||
| P53/1011 | Surrendered See 6.2 | $0\%$ | $0\%$ | ||
| P53/1012 | Surrendered See 6.2 | $0\%$ | $0\%$ | ||
| P53/1013 | Surrendered See 6.2 | 0% | $0\%$ | ||
| P53/1014 | Surrendered See 6.2 | $0\%$ | $0\%$ | ||
| P53/1015 | Surrendered See 6.2 | $0\%$ | $0\%$ | ||
| P53/1016 | Surrendered See 6.2 | $0\%$ | $0\%$ | ||
| P57/0913 | Surrendered See 6.2 | $0\%$ | $0\%$ | ||
| P57/0914 | Surrendered See 6.2 | $0\%$ | 0% | ||
| P57/0917 | Surrendered See 6.2 | $0\%$ | $0\%$ | ||
| P57/0918 | Surrendered See 6.2 | $0\%$ | $0\%$ | ||
| P57/0919 | Surrendered See 6.2 | 0% | $0\%$ | ||
| P57/0920 | Surrendered See 6.2 | $0\%$ | $0\%$ | ||
| P57/0921 | Surrendered See 6.2 | $0\%$ | $0\%$ | ||
| P57/0922 | Surrendered See 6.2 | $0\%$ | $0\%$ | ||
| P57/0923 | Surrendered See 6.2 | $0\%$ | $0\%$ | ||
| *East Coast Minerals NL | |||||
| & Legend Mining Ltd JV | |||||
+ See chapter 19 for defined terms.
| 6.2 | Interests in mining | E51/1046 | Acquisition | $0\%$ | $100\%$ |
|---|---|---|---|---|---|
| tenements acquired or | E51/1054 | Acquisition | $0\%$ | 100% | |
| increased | E53/1091 | Acquisition | $0\%$ | 100% | |
| E53/1092 | Acquisition | $0\%$ | 100% | ||
| E53/1093 | Acquisition | $0\%$ | 100% | ||
| E57/0564 | Acquisition | $0\%$ | 100% | ||
| E57/0565 | Acquisition | $0\%$ | 100% | ||
| E57/0566 | Acquisition | $0\%$ | 100% | ||
| E57/0567 | Acquisition | $0\%$ | 100% | ||
| E57/0568 | Acquisition | $0\%$ | 100% | ||
| E57/0569 | Acquisition | $0\%$ | 100% | ||
| E57/0570 | Acquisition | $0\%$ | 100% | ||
| E57/0571 | Acquisition | $0\%$ | 100% | ||
| E57/0572 | Acquisition | $0\%$ | 100% | ||
| E57/0574 E57/0575 |
Acquisition Acquisition |
$0\%$ $0\%$ |
100% 100% |
||
| E57/0588 | Acquisition | $0\%$ | 100% | ||
| E51/0854 | Acquisition | $0\%$ | 100% | ||
| E51/0855 | Acquisition | $0\%$ | 100% | ||
| E51/0899 | Acquisition | $0\%$ | 100% | ||
| E51/0934 | Acquisition | $0\%$ | 100% | ||
| E53/0826 | Acquisition | $0\%$ | 100% | ||
| M51/0837 | Acquisition | $0\%$ | 100% | ||
| M51/0838 | Acquisition | $0\%$ | 100% | ||
| M51/0839 | Acquisition | $0\%$ | 100% | ||
| M51/0840 | Acquisition | $0\%$ | 100% | ||
| M51/0841 | Acquisition | $0\%$ | 100% | ||
| M51/0850 | Acquisition | $0\%$ | 100% | ||
| M51/0851 M51/0852 |
Acquisition | $0\%$ $0\%$ |
100% 100% |
||
| M51/0853 | Acquisition Acquisition |
0% | 100% | ||
| M53/1006 | Acquisition | $0\%$ | 100% | ||
| M53/1007 | Acquisition | 0% | 100% | ||
| M57/0523 | Acquisition | 0% | 100% | ||
| M57/0524 | Acquisition | $0\%$ | 100% | ||
| M57/0525 | Acquisition | $0\%$ | 100% | ||
| P51/2499 | Acquisition | $0\%$ | 100% | ||
| P51/2520 | Acquisition | $0\%$ | 100% | ||
| E53/1108 | Acquisition See 6.1 | $0\%$ | 0% | ||
| P53/1010 P53/1011 |
Acquisition See 6.1 Acquisition See 6.1 |
$0\%$ $0\%$ |
0% 0% |
||
| P53/1012 | Acquisition See 6.1 | $0\%$ | 0% | ||
| P53/1013 | Acquisition See 6.1 | 0% | 0% | ||
| P53/1014 | Acquisition See 6.1 | $0\%$ | 0% | ||
| P53/1015 | Acquisition See 6.1 | $0\%$ | $0\%$ | ||
| P53/1016 | Acquisition See 6.1 | $0\%$ | $0\%$ | ||
| P57/0913 | Acquisition See 6.1 | $0\%$ | 0% | ||
| P57/0914 | Acquisition See 6.1 | $0\%$ | $0\%$ | ||
| P57/0917 | Acquisition See 6.1 | $0\%$ | $0\%$ | ||
| P57/0918 P57/0919 |
Acquisition See 6.1 Acquisition See 6.1 |
$0\%$ $0\%$ |
$0\%$ $0\%$ |
||
| P57/0920 | Acquisition See 6.1 | $0\%$ | 0% | ||
| P57/0921 | Acquisition See 6.1 | $0\%$ | 0% | ||
| P57/0922 | Acquisition See 6.1 | $0\%$ | 0% | ||
| P57/0923 | Acquisition See 6.1 | $0\%$ | 0% | ||
+ See chapter 19 for defined terms.
Issued and quoted securities at end of current quarter
Description includes rate of interest and any redemption or conversion rights together with prices and dates.
| Total number | Number quoted |
price Issue per security (see note 3) (cents) |
paid Amount up per security (see note $3)$ (cents) |
||
|---|---|---|---|---|---|
| 7.1 | Preference *securities (description) |
||||
| 7.2 | Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy- backs, redemptions |
||||
| 7.3 | + Ordinary securities |
353,578,322 | 278,578,322 | Fully paid | |
| 7.4 | Changes during quarter (a) Increases |
$a)$ 75,000,000 | 4.0 | Fully paid | |
| through issues (b) Decreases through returns of capital, buy- backs |
$a)$ 20,000,000 $a)$ 161,828 |
20,000,000 161,828 |
10.77 15.0 |
Fully paid Fully paid |
|
| 7.5 | + Convertible debt securities (description) |
1 Secured Convertible Note $(\$5,000,000$ face value) 10% coupon rate expiring 10 November 2006 |
|||
| 7.6 | Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted |
||||
| 7.7 | Options (description and conversion |
Exercise price | Expiry date | ||
| factor) | 2,350,000 15,000,000 250,000 2,000,000 75,000,000 1,500,000 |
22 20 20 10 4 30 |
30.05.2006 20.04.2007 30.07.2007 07.02.2008 31.05.2009 30.07.2009 |
+ See chapter 19 for defined terms.
| 7.8 | Issued during quarter |
92,200,000 | |||
|---|---|---|---|---|---|
| 7.9 | Exercised during quarter |
161,828 | 161,828 | 15.0 | 30 April 2005 |
| 7.10 | Expired during quarter |
36,012,379 1,000,000 |
36,012,379 | 15.0 20.0 |
30 April 2005 30 July 2007 |
| 7.11 | Debentures (totals only) |
w | |||
| 7.12 | Unsecured notes (totals only) |
Compliance statement
- $\mathbf{I}$ This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 4).
- $\overline{2}$ This statement does give a true and fair view of the matters disclosed.
Sign here:
...................................... (Company secretary)
Print name:
Andrew Chapman...................................
Notes
- $\mathbf{I}$ The quarterly report provides a basis for informing the market how the entity's activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.
- The "Nature of interest" (items 6.1 and 6.2) includes options in respect of interests in $\overline{2}$ mining tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2.
- 3 Issued and quoted securities The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities.
- $\overline{4}$ The definitions in, and provisions of, AASB 1022: Accounting for Extractive Industries and AASB 1026: Statement of Cash Flows apply to this report.
$+$ See chapter 19 for defined terms.
Accounting Standards ASX will accept, for example, the use of International $\mathfrak{S}$ Accounting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.
$\begin{tabular}{ll} \hline \hline \begin{tabular}{ll} \hline \textbf{m} & \textbf{m} & \textbf{m} & \textbf{m} \ \hline \textbf{m} & \textbf{m} & \textbf{m} & \textbf{m} & \textbf{m} \ \hline \end{tabular} \end{tabular}$
+ See chapter 19 for defined terms.